Benefit Plans

6 Months Ended

Jun. 30, 2013

Benefit Plans [Abstract]

Benefit Plans

Note 10 - Benefit Plans

The following table provides the components of net periodic benefit cost for the pension, supplemental executive retirement and other postretirement benefit plans:

		Three Months Ended June 30,
		Pension and Supplemental Executive Retirement Plans						Other Postretirement Benefits
		2013			2012			2013			2012
	(In thousands)
Service cost		$	2,952		$	2,441		$	212		$	304
Interest cost			3,845			4,135			156			280
Expected return on plan assets			(5,034	)		(4,590	)		(920	)		(791	)
Recognized net actuarial loss			1,557			1,437			-			189
Amortization of prior service cost			127			172			(1,662	)		(1,555	)
Net periodic benefit cost		$	3,447		$	3,595		$	(2,214	)	$	(1,573	)
		Six Months Ended June 30,
		Pension and Supplemental Executive Retirement Plans						Other Postretirement Benefits
		2013			2012			2013			2012
	(In thousands)
Service cost		$	5,669		$	4,831		$	406		$	613
Interest cost			7,644			8,241			309			571
Expected return on plan assets			(10,072	)		(9,106	)		(1,840	)		(1,581	)
Recognized net actuarial loss			3,073			2,915			-			400
Amortization of prior service cost			252			333			(3,324	)		(3,109	)
Net periodic benefit cost		$	6,566		$	7,214		$	(4,449	)	$	(3,106	)

In the second quarter of 2013 we made a $10 million contribution to the pension plan. We currently do not intend to make any further contributions in 2013.

Under Statement of Statutory Accounting Principles (“SSAP”) No. 92 and No. 102, which became effective January 1, 2013, the measurement of pension and other postretirement benefit liabilities will begin to include non-vested employees. This measurement, referred to as the projected benefit obligation, is the measurement currently used under GAAP. The new SSAPs did not have a material impact on our statutory benefit obligations or statutory surplus.